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L&T partners with US firm for global nuclear power deployment
Larsen & Toubro (L&T) has signed a Memorandum of Understanding (MoU) with US-based Clean Core Thorium Energy (CCTE) to provide efficient clean energy solutions globally. The partnership focuses on deploying nuclear power, especially in developing countries needing substantial carbon-free electricity. The collaboration will utilize CCTE’s ANEEL (Advanced Nuclear Energy for Enriched Life) fuel, designed for pressurized heavy water reactors like CANDU. This fuel combines thorium and high assay low-enriched uranium, aiming to cut operating costs…
India’s interregional electricity transfer grows 7.8% in H1FY25
The interregional electricity transfer in India grew 7.8% year-on-year in the first half (H1: April to September) of FY25, reaching 134,714 MU (million units), up from 123,918 MU in H1FY24, according to Grid Controller of India Ltd (GRID-INDIA). Key Highlights: WR-NR transfers: Exports from the Western Region (WR) to the Northern Region (NR) surged by 34.3%, totalling 54,099 MU in H1FY25, representing 40.2% of the total interregional transfers, up from 32.5% in H1FY24. Western Region…
PTC India reports 33% rise in Q1 FY25 net profit to Rs 18.9 billion
Power trading solutions provider PTC India posted a 33% increase in its consolidated net profit for the June quarter, reaching Rs 18.9 billion, up from Rs 14.3 billion in Q1 FY24. The rise in profit was attributed to lower expenses, which fell to Rs 448.6 billion from Rs 460.4 billion a year ago. Earnings per share (EPS) increased to Rs 5.87 in Q1 FY25 compared to Rs 4.39 in Q1 FY24. Trading volume remained relatively…
Elcogen secures €24.9 million EU grant for hydrogen tech expansion
Elcogen has been awarded €24.9 million from the European Union’s 2024 Innovation Fund to expand its production capacity for solid oxide electrolyser cell (SOEC) and solid oxide fuel cell (SOFC) components in Tallinn, Estonia. This funding will enhance Elcogen’s role in advancing green hydrogen production and supporting the transition to green energy. The EU’s Innovation Fund allocated €4.8 billion across 85 projects in 2024, targeting a collective carbon reduction of 476 million tonnes over the…
Honeywell introduces AI-enabled solutions to optimize plant operations
Honeywell has launched a new suite of artificial intelligence (AI)-enabled solutions aimed at improving efficiency, decision-making, and workforce productivity across plant operations. These solutions, powered by Honeywell Forge and decades of industry expertise, provide an end-to-end AI experience for field workers, control room operators, and executives. In response to challenges such as a shortage of skilled talent and the need for enhanced operational efficiency, Honeywell’s AI solutions, including the Experion Operations Assistant, offer step-by-step guidance…
Gautam Solar to expand solar module manufacturing to 5 GW by 2025
Gautam Solar plans to increase its solar module manufacturing capacity to 5 GW by 2025, with the first phase of expansion to be completed in November 2024, followed by phases in January and April 2025. The Rs 100 billion project will be funded through an IPO, expected in the next 12-18 months. The IPO will also support the construction of a 2-GW solar cell plant. Gautam Solar’s contribution could account for 5-7% of India’s current…